LPL Financial LLC Increases Stock Position in Flutter Entertainment plc (NYSE:FLUT)

LPL Financial LLC increased its position in Flutter Entertainment plc (NYSE:FLUT) by 491.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,238 shares of the company’s stock after buying an additional 31,768 shares during the quarter. LPL Financial LLC’s holdings in Flutter Entertainment were worth $9,883,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at about $436,599,000. State Street Corp increased its position in shares of Flutter Entertainment by 61,014.6% in the third quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after acquiring an additional 1,009,792 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at $239,306,000. William Blair Investment Management LLC acquired a new position in shares of Flutter Entertainment during the 4th quarter valued at $137,958,000. Finally, National Pension Service purchased a new stake in Flutter Entertainment during the 4th quarter worth $56,213,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FLUT shares. JMP Securities increased their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Benchmark increased their price objective on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Truist Financial initiated coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They set a “buy” rating and a $330.00 target price on the stock. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Barclays boosted their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and a consensus target price of $311.41.

Flutter Entertainment Trading Down 5.4 %

Shares of Flutter Entertainment stock opened at $205.81 on Friday. The company has a market cap of $36.53 billion and a price-to-earnings ratio of 935.50. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The company’s fifty day simple moving average is $256.42 and its 200-day simple moving average is $253.61. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Insider Activity

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.